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22.06.202112:12 Forex Analysis & Reviews: AUDNZD approaching ascending trendline support! Bounce incoming!

Exchange Rates 22.06.2021 analysis

AUDNZD holding above ascending trendline support. A further push up above 50% Fibonacci retracement and 1st support at 1.07765 towards -27.2% Fibonacci retracement level and 1st resistance at 1.07998 could be possible. Stochastic is reacting above support where price bounced in the past as well.

Trading Recommendation

Entry: 1.07765

Reason for Entry:

50% Fibonacci retracement, ascending trendline support

Take Profit: 1.07998

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 1.07670

Reason for Stop Loss:

Graphical swing low support

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Odborný analytik spoločnosti InstaForex
© 2007-2021
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